Marketplace Morning Report

By Marketplace

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Subscribers: 1363
Reviews: 2

tanner
 May 29, 2020
I love this program so much, great reporting

John
 Oct 1, 2019
Doesn't post early enough to be useful. Usually half the cast is not news.

Description

In less than 10 minutes, we’ll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace’s David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you’ll get a global markets update from the BBC World Service in London. 

Episode Date
In Texas, it’s … renewable energy to the rescue?
00:08:03

The Texas power grid and the organization that runs it made the news a couple of years ago when freezing weather led to deaths and people without power for days. The temperatures in the state now have people reaching for air conditioning and boosting the toll on the electric grid. This is leading to calls for energy conservation. Enter renewable energy, which is picking up the slack. Julia Coronado discusses lower equity prices, futures and the Fed in our talk about the markets. The global economic forum known to many as simply Davos has kicked off.

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May 23, 2022
Breastfeeding proves to be a complicated countermove to baby formula shortage
00:08:25

The baby formula shortage has led many parents to consider breastfeeding. That comes with a variety of costs and barriers, especially in workplace culture. Zoom exploded during the pandemic and has become a fixture in the American workplace lexicon. But what’s Zoom to do with all that money? President Biden, on the final day of his Asia tour, launched a new economic alliance with 12 Indo-Pacific nations.

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May 23, 2022
World faces “confluence of calamities” as Davos meeting kicks off
00:07:15

From the BBC World Service: The meeting of the World Economic Forum in the Swiss mountain resort of Davos has kicked off with a warning from the head of the International Monetary Fund, Kristalina Georgieva. Meanwhile just 170 miles away in Northern Italy, people in the steel town of Brescia are feeling the squeeze of the rising cost of living. And Australia has a new prime minister; he had to be sworn in before all the votes were counted because he is already off to Tokyo for the Quad summit with the U.S., Japan, and India.

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May 23, 2022
Inflation is now a factor in the exodus of educators
00:07:33

Teachers and other education workers are up against pandemic burnout, understaffed schools and wages that aren’t keeping up with inflation. As a result, a recent study has revealed that job satisfaction among those in the profession is at its lowest levels, forcing already-burdened teachers to leave at record rates. U.S. Treasury Secretary Janet Yellen called on other nations to combat global hunger before the G-7 meeting. Christopher Low joins us to discuss the morning’s market behavior.

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May 20, 2022
Biden visits Samsung factory in South Korea to highlight U.S. chip manufacturing
00:07:58

President Biden is in South Korea today, the first of a five-day Asia tour. His first stop? A Samsung computer chip factory. A similar one is to be built in Texas. The president is using his visit to the Samsung plant to push lawmakers here in the U.S. to provide billions of dollars in funding for domestic chip manufacturing. Big retailers are reporting that their loads of surplus inventory are cutting into their profits. We dive into the story of a lawsuit from the descendants of Henrietta Lacks, a Black woman whose cancer cells were taken without her consent and used in the creation of vaccines and other materials that led to billions in profits for pharmaceutical companies. The case explores a variety of ethical questions.

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May 20, 2022
Canada to ban Chinese tech firms from its 5G rollout
00:07:38

From the BBC World Service: Canada says it will ban two of China’s biggest telecoms equipment makers, Huawei and ZTE, from working on its 5G phone networks. Also, the BBC visits the Ukrainian port city of Odessa to hear how grain exports are being blocked by Russia, and the Bank of England’s efforts to improve financial literacy, one Beanie Baby at a time.

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May 20, 2022
How the pros weather this financial turbulence
00:08:35

How much impact will inflation have on profits? Will higher interest rates lead a recession? Investors are getting out of stocks at a rate that’s causing the markets to fall at concerning levels. To navigate through some of this, we consult with Barry Ritholtz, a veteran who has seen it all. Also, companies have been trying to get employees back into the office, at least a few days a week. But rising COVID infection rates are frustrating some of those efforts. We look into the return of tourism, which can be an economic driver for lots of places – but also a source of disruption.

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May 19, 2022
Department of Education to guide colleges toward addressing students’ mental health
00:07:45

But first … we attempt to put yesterday’s down market numbers into context, even though the market doesn’t appear any better this morning. The Department of Education is offering guidance on how colleges can utilize government funding to address the mental health of students. Marketplace’s Stephanie Hughes just spoke with U.S. Secretary of Education Miguel Cardona about this, and we have some of the highlights of their discussion. Plus, China’s COVID lockdowns in its largest port cities triggered concerns about even more disruptions to the already-burdened global supply chain. But in our discussion with Gene Seroka, the executive director of the Port of Los Angeles, that hasn’t happened. We spoke to Seroka about the various challenges the port has been facing.

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May 19, 2022
Australia’s cost-of-living issues hover over upcoming election
00:06:40

From the BBC World Service: As Australians head to the polls this weekend, new data says unemployment is its lowest since the 1970s, but inflation and youth unemployment remain major focuses for voters. Also, Sri Lanka defaults on international debt and the BBC visits a “secret school” defying the Taliban to continue teaching Afghan girls.

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May 19, 2022
New leadership is coming to the Philippines. Investors have questions.
00:09:11

Ferdinand Marcos Jr., son of an ousted dictator and whose mother Imelda was known for her legendary collection of footwear, is poised to become the next president of the Philippines. To help us parse what this could mean for the rest of the world and how the Philippines got to this point, we spoke with the BBC’s Howard Johnson. Additionally, we have the latest on breaking news this morning that the U.S. Soccer Federation and its players have a landmark deal to guarantee equal pay for the men’s and women’s teams. Also, the latest on the effects of sanctions on Russia. Plus, we dig into the changing dynamics of the housing market. And, Susan Schmidt joins us for our discussion about market activity.

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May 18, 2022
Trying to explain the dissonance between oil and gas prices
00:07:42

The price of crude oil is down about 13% since hitting roughly $130 a barrel in early March, when Russia invaded Ukraine. At the same time, the price of gasoline at the pump keeps rising, reaching new records every day. What’s going on? To help explain, we spoke to Javier Blas, a Bloomberg Opinion columnist covering energy and commodities. Plus, the U.S. subsidiary of one of the world’s largest financial services and insurance companies has agreed to pay more than $6 billion in fines and restitution for a fraud scheme that led to the collapse of a group of investment funds. And, in Shanghai, COVID numbers are dropping, but restrictions on residents are still tight.

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May 18, 2022
U.K. inflation rising at fastest pace in 40 years
00:06:33

From the BBC World Service: U.K. inflation jumped to 9% in the 12 months to April, up from 7% in March, as higher energy bills hit millions of households. Also, could Chevron get the green light to re-start work in Venezuela? And Spain’s government proposes new laws around abortion rights.

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May 18, 2022
FDA takes more steps to mitigate baby formula shortage
00:09:17

Help is on the way for the baby formula shortage, but it’s going to take some time. Plans are underway to reopen a plant in Michigan that, when it was in operation, was the largest formula producer in the United States. However, the process of restarting the plant and producing enough formula to start filling empty spaces on store shelves will take weeks upon weeks. A program that helps people pay for heating now has to pivot to concerns on the other side – air conditioning. We look into some of the dynamics behind condo prices, which remain high.

May 17, 2022
How global threats can bring nations together
00:07:50

If the world is going to find solutions to its toughest problems, it’s going to need a new infrastructure that fosters cooperation among nations. That’s the argument made by Ian Bremmer, president of political-risk consultancy Eurasia Group, in his new book “The Power of Crisis.” We look into the driving forces behind consumer spending in the face of inflation and economic uncertainty.

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May 17, 2022
Sri Lanka has officially run out of fuel
00:08:12

From the BBC World Service: Sri Lanka is now a country with an empty tank, as the worst economic crisis in its independent history continues to spiral. Also, what the White House’s shift in approach to Cuba could mean for the island’s economy, and we hear memories of McDonald’s in Moscow as the golden arches get set to be packed up for good in Russia.

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May 17, 2022
The labor shortage from the perspective of nursing
00:07:44

The shortage of nurses in hospitals and other healthcare facilities is affecting care across the country, and providers have tried plugging the gaps. We spoke to Deborah Burger, president of National Nurses United, the largest nursing union in the country, about the issues that contribute to the current nursing environment. Online delivery could provide help to areas that don’t have easier access to groceries with fresh food, but there are still some obstacles to consider. The BBC checks in on China’s economy (the world’s second largest) as there are growing COVID-19 lockdowns and a rising jobless rate.

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May 16, 2022
Solar panels’ origin story could dim prospects for industry, U.S. projects
00:07:56

The Department of Commerce is investigating whether solar panels imported from Southeast Asia are really coming from China, and if so, should be subject to tariffs. Trade groups say the investigation casts a shadow on the industry and is also slowing down progress on certain projects. The labor shortage has affected Walmart to the point where the retail giant has launched a program to find store managers, hoping to entice college grads with the chance at eventual six-figure salaries. This year’s Memorial Day sales could provide a glimpse into how both retailers and consumers view inflation.

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May 16, 2022
China unemployment rate near pandemic peak
00:06:55

From the BBC World Service: China’s jobless rate rose to the highest level since the early part of the COVID-19 pandemic. It comes as widening lockdowns led to a sharp slowdown in activity for the world’s second largest economy. Also, Switzerland votes to force global streaming giants to pay towards making more Swiss content. And the impact India’s new ban on wheat exports could have on global prices.

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May 16, 2022
Elon Musk casts doubt on his acquisition of Twitter – through tweets
00:09:36

Tesla CEO Elon Musk tweeted that his purchase of Twitter is “temporarily on hold” as he works to acquire more information on spam and fake accounts on the platform. The claim has been met with some skepticism. We have the second part of our chat with Marketplace’s Kai Ryssdal about his discussion with Fed chair Jerome Powell. The U.S. and its allies are talking about ways to stabilize oil prices. One idea comes from Italy’s prime minister, who suggested banding together against oil producers. The gambling industry has recovered to the point where its putting up pre-pandemic numbers.

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May 13, 2022
Add stablecoin instability to the stack of cryptocurrency troubles
00:08:03

A bank run. Panic selling. These are some of the not-so-enviable descriptions of what’s going on right now in cryptocurrencies. Bitcoin looks set for a record seventh week of losses, and so-called stablecoins have shown weakness. What’s going on? Also, we hear the first part of our discussion with Marketplace’s Kai Ryssdal about his sit-down interview with Fed chair Jerome Powell.

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May 13, 2022
How many jobs has the war in Ukraine cost?
00:07:37

From the BBC World Service: Ukraine’s former economy minister gives us a sense of the job losses the war has caused, and on the rebuilding plans already in progress. Also, the dollar shortage causing a crunch for Kenyan businesses.

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May 13, 2022
Despite new faces, diversity appears elusive to other parts of the Fed system
00:07:59

The Senate confirmed Philip Jefferson this week as just the fourth Black man to serve as a Federal Reserve governor in Washington. He joins Lisa Cook, the first Black woman to serve as a Fed governor. However, a new report shows that the pace of diversity has been slower at the 12 regional Fed banks. We speak with the BBC’s Victoria Craig about London vying for position at the top of the cryptocurrency world.

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May 12, 2022
The unionization bug bites Congress
00:07:50

Staffers in the House of Representatives are going be allowed to unionize for the first time, following a vote narrowly passed by Democrats. Long hours and low pay are at the crux of the unionization efforts, and there are hopes that unionization could slow down constant turnover. The House has also passed a bill that sets up new benefits for federal firefighters. We look into how the closing of a Piggly Wiggly store in Nashville illustrates the impact of local store closures in a community.

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May 12, 2022
Is now the time for more crypto regulation? The U.K. says yes.
00:06:57

From the BBC World Service: A bout of volatility in crypto assets has sparked renewed conversations about whether and how better regulations can be written for the industry. Plus, Softbank shares plunge after “eye watering” quarterly loss. And, Google adds 24 new languages to its Google Translate app.

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May 12, 2022
Has peak inflation arrived?
00:07:56

The latest consumer price index shows that prices rose 8.3% between April of this year and last year. While that’s high, it’s not has high as we’ve seen … so, does that mean inflation has peaked? Here to consult with us is Susan Schmidt, head of U.S. equities at Aviva Investors. Plus, Ukraine’s natural gas pipeline operator has stopped Russian shipments through a major hub, which is a problem for European nations that still rely on Russian gas. Also, the recent hit to the value of cryptocurrencies. And, why North Korea is likely to once again prioritize its weapons program over its economic well-being.

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May 11, 2022
Senate confirms Lisa Cook as first Black woman to serve on Fed board
00:07:54

The Senate has confirmed President Biden’s nominee Lisa Cook to serve on the Federal Reserve Board of Governors. The economist will be the first Black woman ever to serve on the board. Also, Marketplace’s China correspondent Jennifer Pak checks in from Shanghai, which is still in COVID lockdown and actually increasing restrictions. And, hear from a company that makes compact shelters for those experiencing homelessness in Washington state.

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May 11, 2022
Ukraine cuts off Russian natural gas supply
00:08:09

From the BBC World Service: Ukraine has essentially turned off one of its taps transporting Russian natural gas supplies to Europe. Also on the program, we meet the entrepreneurs launching new airlines, despite the pandemic.

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May 11, 2022
Big Tech is taking big hits as Wall Street enters a sixth week of uncertainty
00:07:27

We consult Lindsey Piegza of Stifel as the markets, especially the tech-filled Nasdaq, are reeling from a selloff that’s been going on for five weeks. What’s going on? Also, we look into why oil appears to be cheaper, but not the retail gasoline we’re buying at the pump. And, banks are keeping an eye out for signs of future loan defaults as consumer credit is on the rise.

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May 10, 2022
Cost of living to become focus of the State Opening of U.K. Parliament
00:07:16

From the BBC World Service: Prince Charles is to read the Queen’s Speech on her behalf for the first time, after the 96-year-old monarch pulled out due to mobility problems. Plus, Sri Lanka’s prime minister resigns after months of sometimes violent protests over his handling of the country’s worst economic crisis in history.

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May 10, 2022
The challenges of farming in drought-ridden California’s Central Valley
00:07:34

California is entering its third year of drought, and that has farmers in the state’s Central Valley concerned about an already burdened food system. The Central Valley produces about a quarter of the food in the United States. We spoke to a farmer about the obstacles he faces. How is Wall Street recovering after weeks of tech stocks taking a beating? On the heels of the Kentucky Derby, we look into the economics behind investing in racehorses.

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May 10, 2022
Immigration’s role in the tight U.S. labor market
00:08:06

A sharp decline in immigration to the U.S. could be contributing to the country’s labor shortage. According to research from economists at the University of California, Davis, the country had 2 million fewer working-age immigrants at the end of 2021 than it would have had if pre-pandemic immigration trends had continued. We spoke to Marketplace senior economics contributor Chris Farrell about the consequences of the decline in immigration. Plus, we talk to Julia Coronado, founder of MacroPolicy Perspectives, about what’s driving the latest market volatility. And, how far does the U.S. economy have to go before it makes up all of the jobs that were lost to the pandemic?

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May 09, 2022
Abortion rights groups are mobilizing ahead of the 2022 midterm elections
00:08:14

Abortion rights groups had already planned to ramp up spending ahead of the 2022 midterm elections. And that was before the leak of the draft Supreme Court opinion on abortion, which could now further change things. We spoke to Mary Ziegler, a visiting professor at Harvard Law School, about the future of these lobbying for abortion rights and anti-abortion groups. Plus, the White House unveiled a plan this morning to connect more Americans to high-speed internet as part of the bipartisan infrastructure law.

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May 09, 2022
As Russia marks WWII “Victory Day,” how is its economy doing?
00:06:35

From the BBC World Service: The annual event serves as a reminder of the 27 million Soviet citizens who died during World War II. President Putin took the opportunity to justify his invasion of Ukraine, which is squeezing the finances of ordinary Russians. Plus, China’s export growth is slowing. And, as people in the Philippines cast their votes, we hear about the economic challenges facing the country’s next President.

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May 09, 2022
Another month, another strong hiring report
00:08:27

The unemployment rate remained unchanged, though. Also, wages are still going up but not quite as fast as they have been, and not as fast as prices are rising. We talked to Christopher Low, chief economist at FHN Financial, about what to make of today’s numbers. Plus, Boeing announced it is moving its headquarters from Chicago to Arlington, Virginia. And, a painting of Marilyn Monroe by Andy Warhol could go for something like $200 million at auction next week. Art critic Blake Gopnik says the piece could very well be worth that much, but it’s misunderstood.

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May 06, 2022
Employers continue to face pressure to raise wages in a tight labor market
00:08:15

Workers are continuing to flex their bargaining power in a tight labor market. Average hourly earnings were up 5.6% in March, compared to a year ago. Employers are giving raises and boosting starting salaries to retain and attract workers. Plus, Fidelity Investments’ plan to allow investors to invest in cryptocurrency as part of retirement accounts is facing questions from lawmakers, including Democratic Sen. Elizabeth Warren of Massachusetts. Businesses that provide medication abortions are facing new demand and challenges amid the leaked draft of the Supreme Court opinion that would overturn Roe v. Wade.

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May 06, 2022
Hungary calls Russian oil ban an economic “atomic bomb”
00:07:46

From the BBC World Service: The Hungarian Prime Minister Viktor Orban vowed to veto current EU proposals to phase out imports of Russian oil, saying they would be devastating to Eastern European countries which rely heavily on the fuel. Plus, European Commission President Ursula von der Leyen says a sixth sanctions package against Russia will go ahead, even if it takes longer than expected. And, we visit a German oil refinery that’s still very reliant on Russian oil.

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May 06, 2022
TurboTax parent company to settle over deceptive advertising claims
00:08:58

The company behind TurboTax has agreed to pay restitution to millions of customers who used its tax preparation software. This is to settle allegations that Intuit used deceptive marketing tactics to charge people who should have been able to file their taxes for free. Marketplace’s Nova Safo has the latest details. Also, Diane Swonk, chief economist at the tax and advisory firm Grant Thornton, walks us through the state of the labor market and the implications of the Fed’s half point rate hike yesterday. Plus, what happens when a country’s central bank does not use higher interest rates to rein in inflation? We have an example from Turkey, where consumer prices are up nearly 70% in a year. And, hear how Allentown, Pennsylvania, at the heart of the Rust Belt has started attracting new manufacturing businesses.

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May 05, 2022
The Fed hiked interest rates yesterday. Now what?
00:07:31

Yesterday, the Federal Reserve moved to hike interest rates by half of one percentage point. Chair Jerome Powell said the Fed is not actively considering raising rates by three-quarters of a point. We talked to Marketplace’s Nancy Marshall-Genzer, who was in person at the press conference following the announcement. Plus, the Department of Homeland Security will grant work permit extensions for many immigrants with expired and near-expired documents. And, there has been an uptick in donations to abortion funds following the leaked Supreme Court draft opinion that would overturn the landmark Roe v. Wade case.

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May 05, 2022
Turkey’s cost-of-living crisis deepens, and one mother tells us how
00:07:18

From the BBC World Service: Turkey’s annual rate of inflation is just shy of 70%. It’s 69.9% to be exact, according to data released Thursday. We hear what life is like for one family in Istanbul. Plus, as many European countries seek alternatives to Russia energy supplies, Lithuania officially opens a natural gas pipeline to Poland.

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May 05, 2022
Take a window-seat view into the unfriendly skies of the airline industry
00:07:43

The airline industry is attempting to soar over and through a minefield of obstacles, such as the pandemic, labor shortages and passengers being bad. In the middle of all this is Avelo Airlines, a new low-fare carrier that emerged during the pandemic – and is ready to expand. We sat down with Andrew Levy, founder, chairman and CEO of Avelo Airlines, about what it’s like to navigate the industry’s maze of challenges. The European Union has proposed a ban on Russian oil. Susan Schmidt joins us to discuss the market’s focus on the Fed.

May 04, 2022
There’s an inequitable flip side to the monthly jobs numbers
00:07:32

The monthly jobs report has become something of an event, where the numbers about the labor market and unemployment are used as beacons to indicate the economy’s health. Beyond those numbers, however, is the relatively untold story of inequality among workers of color and across genders. For more on this, we spoke to to Dr. Alex Camardelle, Director of Workforce Policy at the Joint Center for Political and Economic Studies. Later this morning, the payroll firm ADP will release its monthly report of private sector job growth. Marketplace’s China correspondent Jennifer Pak checks in from Shanghai, which is still wading through a COVID lockdown period.

May 04, 2022
EU proposes banning Russian oil
00:06:12

From the BBC World Service: The European Union is proposing to halt the import of Russian crude oil and refined fuels. And the Reserve Bank of India unexpectedly raised interest rates by 0.4 percentage points.

May 04, 2022
A look at the economic effects of restricting abortion
00:07:48

We have more about the leaked draft of a Supreme Court majority opinion that would allow states to outlaw abortion. Scholars and analysts have examined the possible economic effects of overturning the landmark Roe v. Wade decision. One of them is Caitlin Knowles Myers, economics professor at Middlebury College, who joined others in submitting a briefing to the court with this data. She spoke with us this morning. Workers at an Amazon warehouse in New York City voted not to unionize, which is a step back for the newly formed Amazon Labor Union.

May 03, 2022
Pandemic-driven poverty still scars New York City
00:07:54

Poverty in New York City grew during the pandemic, and many of the government programs that helped many families endure through that period are coming to an end. We spoke with Rich Buery, CEO of nonprofit Robin Hood, about a new report that shows that even as much of NYC heads back to work for business as usual, the presence of poverty and multifaceted insecurity is still very strong. We have more details on the leaked draft majority opinion regarding where the Supreme Court could stand on Roe v. Wade. As we prepare for more data on job turnover, we look at wage increases for low-income workers.

May 03, 2022
The difference between a quarterly profit and loss at BP depends on its involvement in Russia
00:08:42

From the BBC World Service: Energy giant BP took a $25.5-billion one-time charge for ending its Rosneft relationship, but high energy prices led to the biggest quarterly profit in more than a decade. Plus: Australia raises interest rates for the first time in 11 years as the cost of living bites into household budgets. And, a look at progress and pitfalls of China’s controversial Belt and Road Initiative.

May 03, 2022
How mortgage rates are reacting to the Fed’s inflation fight
00:07:07

This week, the Federal Reserve is expected to raise interest rates to help tackle inflation. Thus far, mortgage rates have been responding to the Fed’s measures, which have risen to a decade-high level. We talk to Julia Coronado, founder and president of MacroPolicy Perspectives, for more on what this means for the economy and prospective homebuyers. Plus, workers at an Amazon warehouse in Staten Island, New York, voted to unionize last month, but Amazon has filed complaints in hopes over overturning the result. And, coin collecting is becoming a profitable venture thanks to social media.

May 02, 2022
Gas prices are a source of financial hardship for more than half of Americans, survey says
00:07:36

More than half of Americans are facing financial hardship because of rising gas prices, according to a new Gallup survey. With the cost of other household goods like food also on the rise, some are saying spending more at the gas pump has become a huge source of stress. Also, the Federal Reserve meets this week to decide its next move in the fight against inflation, and it is expected to raise interest rates again. And, students of indigenous descent attending some public universities in California will soon be eligible for tuition assistance.

May 02, 2022
How big is Europe’s appetite to cut off Russian energy?
00:07:10

From the BBC World Service: EU energy ministers are this week discussing an embargo on Russian energy, but Germany’s economy minister says there’s not yet unanimity on a way forward. Meanwhile, India’s prime minister is on a diplomatic tour in Europe and the war in Ukraine is a central focus. Plus, how a $3 trillion cannabis industry left Jamaica’s smaller producers behind.

May 02, 2022
The business behind the NFL draft
00:07:33

The NFL draft, full of spectacle and excitement as players were selected by their future teams, kicked off last night in Las Vegas. The event is expected to attract over 200,000 per day over the draft’s three days and seven rounds. For more, we talk to Marketplace’s Andy Uhler, who’s on the ground in Las Vegas. After more than two years of working at home, some parents brought their children into the office for Take Our Daughters and Sons to Work Day.

Apr 29, 2022
What China’s trade decisions do to the global economy
00:07:20

China is a big player in the global economy, importing and exporting several trillion dollars worth of goods and services each year. That means China’s trade decisions can affect the health of industries and economies across the globe, but right now it’s hard for the World Trade Organization to do anything about it. For more on this issue, we talk to Chad Bown at the Peterson Institute for International Economics. Households are becoming more nervous about personal finances due to inflation. A look at results from Apple and Amazon, which reported earnings and losses this week.

Apr 29, 2022